Lundin Petroleum $5 billion reserve-based loan facility

Value:

$ 5 billion

Status:

Completed

Date:

5/2/2016

Lundin Petroleum has taken out a seven year up-to-$5 billion reserve-based loan (RBL) facility from 23 banks.
It is believed to be the largest RBL ever taken out by an upstream oil and gas company.
The deal consists of an initial $4.3 billion loan with an accordion feature allowing additional funding of $700 million.
The new facility replaces an existing $4 billion due to mature in 2019.
The funds will be used to develop the Johan Sverdrup oil field in Norway.

Jon Moore - Journalist

Malaysia
France
Netherlands
Norway
Sweden
Switzerland
United Kingdom

Reserve-based lending (RBL)

Banking

Oil and gas

Arntzen de Besche

Party: Lundin Petroleum (Borrower)

Lawyer: Atle Stensrud

Ashurst

Party: Lundin Petroleum (Borrower)

Lawyer: Huw Thomas

Chabrier Avocats

Party: Lundin Petroleum (Borrower)

Delphi